3 weeks ago

Sensex, Nifty Fall as Crude Nears $90, US-Iran Hopes Fade

Sensex, Nifty Fall as Crude Nears $90, US-Iran Hopes Fade
Sensex, Nifty fall as crude nears $90, US Iran deal hopes fade; what's ahead? · businesstoday.in

Stock markets are places where people buy and sell small pieces of companies, called shares.

When many people sell their shares, prices go down.

In India, two important markets are called Sensex and Nifty, and recently their prices fell.

One big reason is that oil got more expensive, with prices moving close to $90 for one barrel.

Oil is used to make fuel for cars, planes and factories, so expensive oil makes life costlier for everyone.

Another reason is that many people were hoping the US and Iran would make a deal to keep oil prices down, but that hope faded.

Worried investors started selling shares, especially in big banks and other companies.

Some other companies, like those making medicines and computer software, actually did a little better.

Experts say the market is moving sideways and suggest investors be careful while watching key price levels for new signals.

Key facts

Brent crude price
Moving towards $90 per barrel
Sensex support level
78,000–77,800
Sensex resistance level
78,500–78,700
Nifty support (200-day EMA)
24,390–24,350
Nifty resistance
24,600–24,630
Nifty Midcap100
Closed 0.02% lower
Nifty Smallcap100
Gained 0.22%
Relative gainers
Pharma and select IT stocks

Quotes

Ajit Mishra

SVP Research at Religare Broking

“Concerns over the disruptions in the Strait of Hormuz and the US‑Iran negotiations kept sentiment guarded, particularly ahead of key inflation prints in India and the US. The resulting risk‑off sentiment weighed on sectors most vulnerable to higher energy costs, while pharma and select IT names emerged as relative gainers.”
businesstoday.in
“Investor sentiment remained subdued amid a renewed rise in crude oil prices, with Brent crude moving towards the $90 per barrel mark as hopes of an early US‑Iran agreement faded.”
businesstoday.in

Sources

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